An exurb of Denver that has become known for massive warehouse and office growth is about to see the construction of a 1.1 million square foot industrial park.
The Dallas-based Trammell Crow Company has announced plans to build the park on a nearly 90-acre site in Commerce City near the intersection of East 104th Avenue and Interstate Highway 76.
A leading real estate development and investment company, Trammel is taking on the project in a partnership with Clarion Partners, which is headquartered in New York and specializes in real estate investment and management.
The ambitious $125 million project is being called the 104th Commerce Park, and will see the construction of five industrial and distribution structures housing business tenant spaces ranging from 15,000 square feet to as much as 290,000 square feet.
“The site provides a new opportunity for industrial infill development with an accessible location to reduce drive-times for transportation routes in every direction,” Bill Mosher, Trammell Crow managing director, is quoted as saying of the location in the publication Mile High CRE.
First phase construction of the park is expected to launch in 2021 with a completion date of sometime the following year. Second phase work will begin shortly afterwards.
Trammell Crow has been increasing its eastern Colorado footprint, taking on industrial, office, and residential projects in the last 10 years with an estimated worth of nearly $3 billion.
Located 8 miles to the northeast of Denver, Commerce City, which has experienced a tripling of its population in the last two decades leading to just over 60,300 residents today, has also seen a double-digit growth in large and medium-sized warehousing facilities, and is now home to more than 100 distribution and logistics companies.
By Garry Boulard
